Fast and Hassle-Free Funding for Foreign National Loans

Fast and Hassle-Free Funding for Foreign National Loans

LendSure Foreign National Program

Partner with a lender that understands the unique challenges of funding loans for Foreign National borrowers. LendSure’s team of highly experienced professionals are experts in navigating foreign national credit and asset verification issues, so loans fund on time and with a minimum of hassle.

  • Income verification letter from employer or CPA accepted
  • No tax returns required
  • Foreign credit report allowed
  • Highly competitive rates
  • Unsurpassed funding times
  • LTVs up to 70%
  • Only 30 days’ sourcing and seasoning of assets for LTVs up to 50%
  • Various Visa types accepted

Program Guidelines

Borrower Type

A non-US citizen authorized to be in the US on a temporary basis.
Visas: B-1,B-2, H-2, H-3, I, J-1, J-2, O-2, P1, P2.
Visa must not expire within 6 months.

Income Documentation

Verification of earnings past 2 years

US Credit

Minimum FICO: 620
Mortgage DQ History: 0x30x24
Credit Event Seasoning: Bankruptcy, Foreclosure, Short Sale, Loan Modification: 36 months.
Credit History: 3 active tradelines, 2 year history

Occupancy

Second or Non-Owner Occupied. Certification of intent not to occupy is required.

Foreign Credit

Mortgage DQ History: 0x30x24, unless ≤ 50% LTV
Credit History: 3 open tradelines. 2 year history no lates
Max LTV: 70%

Maximum Cash Out

$500,000 for ≤ 60% LTV
$250,000 for ≥ 60% LTV
$100,000 for > 65% LTV

Reserve Requirements

12 months PITI + 4 months if no verifiable housing history

Asset Verification

Sourced and Seasoned 60 days in financial institution

Loan Amounts

$1,000,000 for maximum 60% LTV
$750,000 for maximum 75% LTV

Prepay Penalty (Investor only)

24 months Prepay

Loan Terms

30-Year Amortized & Term – 5/1 or 7/1 Hybrid ARM or 30-Yr Fixed
All Loans require impounding for Taxes & Insurance

Index & Adjustment Caps

Margin: 6.95% Index: 1-Year LIBOR Floor: Start Rate
3.0% Initial Change Cap / 2.0% Annual Cap / 6.0% Life Cap

Qualifying Rate

Higher of Note Rate or Fully Indexed Rate

Secondary Financing

Not Allowed

Property Types

SFR / Condos / PUD / Townhome / 2-4 Unit.
No Texas properties > 10 acres.

Deviations

Case by case basis